Letters: Property woes keep going
[Re: Homeowners look to flog properties as UK house price growth slows, yesterday]
The slight easing of the property market is a welcome sign for those who have been priced out during the relentless rise in house prices over the last few years. Likewise, the fact that homeowners with multiple properties are looking to sell while the price is at record levels will go some way to injecting supply back into the underserved housing market.
Despite this, the supply of affordable housing in London and across the country remains lamentably low. 300,000 people are on waiting lists in London alone, while recent figures suggest that the number of vacant homes in the capital has reached over 87,000.
The solution is to convert disused spaces into affordable housing and build more homes. Public/private partnerships usually work really well in this respect.
Tackling this issue is far from impossible, yet the lack of political will to think in the long-term risks exacerbating the situation. The market may be slowing somewhat, but the sustainable solution to our housing crisis must be to increase the supply – and urgently.
Guy Horne